After-Hours Movers:
Marin (NASDAQ: MRIN) 74% HIGHER; entered into a Revenue Share Agreement with Google LLC for the Company to develop its enterprise tech platform and software products.
Summit Therapeutics PLC (NASDAQ: SMMT) 19.8% LOWER; received feedback from the United States Food and Drug Administration (the “FDA”) that the FDA does not agree with the change to the primary endpoint that Summit proposed and has subsequently implemented in its ongoing Phase III Ri-CoDIFy studies when combining the studies. As Summit previously communicated, it has combined the Phase III studies into a single study and will provide the combined results to all stakeholders, as the top line results become available. These top line results will best inform all parties as to the next appropriate course of action regarding ridinilazole. Summit anticipates communicating these results during the first quarter of 2022.
Stitch Fix Inc. (NASDAQ: SFIX) 15.6% HIGHER; reported Q4 EPS of $0.19, $0.32 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $571.2 million versus the consensus estimate of $547.89 million. Stitch Fix sees Q1 2022 revenue of $560-575 million, versus the consensus of $591 million.
Leap Therapeutics Inc (Nasdaq: LPTX) 10.2% LOWER; commenced an underwritten public offering of its common stock and, in lieu of common stock, Leap intends to offer and sell to certain investors pre-funded warrants to purchase shares of its common stock. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by Leap. Leap intends to grant the underwriters a 30-day option to purchase up to an aggregate of an additional 15% of the securities offered in the public offering. The offering is subject to market, regulatory, and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
FedEx (NYSE: FDX) 4.5% LOWER; reported Q1 EPS of $4.37, $0.63 worse than the analyst estimate of $5.00. Revenue for the quarter came in at $22 billion versus the consensus estimate of $21.91 billion. FedEx sees FY2022 EPS of $19.75-$21.00, versus the consensus of $21.20.
Adobe Systems (NASDAQ: ADBE) 4% LOWER; reported Q3 EPS of $3.11, $0.10 better than the analyst estimate of $3.01. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.89 billion. Adobe Systems sees Q4 2021 EPS of $3.18, versus the consensus of $3.08. Adobe Systems sees Q4 2021 revenue of $4.07 billion, versus the consensus of $4.04 billion.
Hyatt Corporation (NYSE: H) 3% LOWER; commenced an underwritten registered public offering of 7,000,000 shares of its Class A common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of its Class A common stock. The offering is subject to market and other customary conditions.
